A person working as a Petroleum Geologist in Micronesia typically earns around 2,250 USD per month. Salaries range from 1,170 USD (lowest) to 3,450 USD (highest).
This is the average monthly salary including housing, transport, and other benefits. Petroleum Geologist salaries vary drastically based on experience, skills, gender, or location. Below you will find a detailed breakdown based on many different criteria.
Petroleum Geologist salaries in Micronesia range from 1,170 USD per month (minimum salary) to 3,450 USD per month (maximum salary).
The median salary is 2,160 USD per month, which means that half (50%) of people working as Petroleum Geologist(s) are earning less than 2,160 USD while the other half are earning more than 2,160 USD. The median represents the middle salary value. Generally speaking, you would want to be on the right side of the graph with the group earning more than the median salary.
Closely related to the median are two values: the 25th and the 75th percentiles. Reading from the salary distribution diagram, 25% of Petroleum Geologist(s) are earning less than 1,500 USD while 75% of them are earning more than 1,500 USD. Also from the diagram, 75% of Petroleum Geologist(s) are earning less than 2,690 USD while 25% are earning more than 2,690 USD.
Both are indicators. If your salary is higher than both of the average and the median then you are doing very well. If your salary is lower than both, then many people are earning more than you and there is plenty of room for improvement. If your wage is between the average and the median, then things can be a bit complicated. We wrote a guide to explain all about the different scenarios. How to compare your salary
The experience level is the most important factor in determining the salary. Naturally the more years of experience the higher your wage. We broke down Petroleum Geologist salaries by experience level and this is what we found.
A Petroleum Geologist with less than two years of experience makes approximately 1,330 USD per month.
While someone with an experience level between two and five years is expected to earn 1,790 USD per month, 34% more than someone with less than two year's experience.
Moving forward, an experience level between five and ten years lands a salary of 2,320 USD per month, 30% more than someone with two to five years of experience.
Additionally, Petroleum Geologist(s) whose expertise span anywhere between ten and fifteen years get a salary equivalent to 2,810 USD per month, 21% more than someone with five to ten years of experience.
If the experience level is between fifteen and twenty years, then the expected wage is 3,070 USD per month, 9% more than someone with ten to fifteen years of experience.
Lastly, employees with more than twenty years of professional experience get a salary of 3,230 USD per month, 5% more than people with fifteen to twenty years of experience.
|0 - 2 Years|
|2 - 5 Years||+34%|
|5 - 10 Years||+30%|
|10 - 15 Years||+21%|
|15 - 20 Years||+9%|
We all know that higher education equals a bigger salary, but how much more money can a degree add to your income? We broke down Petroleum Geologist salaries by education level in order to make a comparison.
When the education level is Bachelor's Degree, the average salary of a Petroleum Geologist is 1,720 USD per month.
While someone with a Master's Degree gets a salary of 2,130 USD per month, 24% more than someone having a Bachelor's Degree degree.
A PhD gets its holder an average salary of 3,400 USD per month, 60% more than someone with a Master's Degree.
A Master's degree program or any post-graduate program in Micronesia costs anywhere from 7,020 US Dollar(s) to 21,100 US Dollar(s) and lasts approximately two years. That is quite an investment.
You can't really expect any salary increases during the study period, assuming you already have a job. In most cases, a salary review is conducted once education is completed and the degree has been attained.
Many people pursue higher education as a tactic to switch into a higher paying job. The numbers seem to support the thoery. The average increase in compensation while changing jobs is approximately 10% more than the customary salary increment.
If you can afford the costs of higher education, the return on investment is definitely worth it. You should be able to recover the costs in roughly a year or so.
Though gender should not have an effect on pay, in reality, it does. So who gets paid more: men or women? Male Petroleum Geologist employees in Micronesia earn 11% more than their female counterparts on average.
Petroleum Geologist(s) in Micronesia are likely to observe a salary increase of approximately 10% every 28 months. The national average annual increment for all professions combined is 5% granted to employees every 28 months.
The term 'Annual Salary Increase' usually refers to the increase in 12 calendar month period, but because it is rarely that people get their salaries reviewed exactly on the one year mark, it is more meaningful to know the frequency and the rate at the time of the increase.
The annual salary Increase in a calendar year (12 months) can be easily calculated as follows: Annual Salary Increase = Increase Rate x 12 ÷ Increase Frequency
Listed above are the average annual increase rates for each industry in Micronesia for the year 2020. Companies within thriving industries tend to provide higher and more frequent raises. Exceptions do exist, but generally speaking, the situation of any company is closely related to the economic situation in the country or region. These figures tend to change frequently.
A Petroleum Geologist is considered to be a moderate bonus-based job due to the generally limited involvement in direct revenue generation, with exceptions of course. The people who get the highest bonuses are usually somehow involved in the revenue generation cycle.
63% of surveyed staff reported that they haven't received any bonuses or incentives in the previous year while 37% said that they received at least one form of monetary bonus.
Those who got bonuses reported rates ranging from 3% to 5% of their annual salary.
The most standard form of bonus where the employee is awarded based on their exceptional performance.Company Performance Bonuses
Occasionally, some companies like to celebrate excess earnings and profits with their staff collectively in the form of bonuses that are granted to everyone. The amount of the bonus will probably be different from person to person depending on their role within the organization.Goal-Based Bonuses
Granted upon achieving an important goal or milestone.Holiday / End of Year Bonuses
These types of bonuses are given without a reason and usually resemble an appreciation token.
People tend to confuse bonuses with commissions. A commission is a prefixed rate at which someone gets paid for items sold or deals completed while a bonus is in most cases arbitrary and unplanned.
The main two types of jobs
|Revenue Generators||Supporting Cast|
Employees that are directly involved in generating revenue or profit for the organization. Their field of expertise usually matches the type of business.
Employees that support and facilitate the work of revenue generators. Their expertise is usually different from that of the core business operations.
Revenue generators usually get more and higher bonuses, higher salaries, and more frequent salary increments. The reason is quite simple: it is easier to quantify your value to the company in monetary terms when you participate in revenue generation.
Top management personnel and senior employees naturally exhibit higher bonus rates and frequencies than juniors. This is very predictable due to the inherent responsibilities of being higher in the hierarchy. People in top positions can easily get double or triple bonus rates than employees down the pyramid.
The hourly wage is the salary paid in one worked hour. Usually jobs are classified into two categories: salaried jobs and hourly jobs. Salaried jobs pay a fix amount regardless of the hours worked. Hourly jobs pay per worked hour. To convert salary into hourly wage the above formula is used (assuming 5 working days in a week and 8 working hours per day which is the standard for most jobs). The hourly wage calculation may differ slightly depending on the worked hours per week and the annual vacation allowance. The figures mentioned above are good approximations and are considered to be the standard. One major difference between salaried employees and hourly paid employees is overtime eligibility. Salaried employees are usually exempt from overtime as opposed to hourly paid staff.
The average salary for Petroleum Geologist is 78% more than that of Oil / Gas / Energy / Mining. Also, Oil / Gas / Energy / Mining salaries are 10% less than those of All Jobs.
|Job Title||Average Salary|
|Assistant Yard Manager||1,210 USD||-46%|
|Associate Analyst||1,340 USD||-41%|
|Associate Landman||560 USD||-75%|
|Auxiliary Equipment Operator||540 USD||-76%|
|Biomass Plant Technician||610 USD||-73%|
|Biomass Power Plant Manager||1,830 USD||-19%|
|Chemical Plant Operator||1,070 USD||-53%|
|Chief Contract Compliance Engineer||1,390 USD||-38%|
|Completions Engineer||1,190 USD||-47%|
|Cost Controller||910 USD||-60%|
|Crude Oil Marketing Representative||1,350 USD||-40%|
|Distribution Manager||1,780 USD||-21%|
|Dragline Operator||630 USD||-72%|
|Driller Offsider||440 USD||-80%|
|Dump Truck Driver||510 USD||-77%|
|Electric and Gas Operations Manager||2,810 USD||+25%|
|Energy Advisor||1,960 USD||-13%|
|Energy Analyst||1,890 USD||-16%|
|Energy Auditor||1,570 USD||-30%|
|Energy Dispatch Director||2,210 USD||-2%|
|Energy Technical Assistant||780 USD||-65%|
|Energy Technical Manager||1,540 USD||-32%|
|Energy Technical Trainer||1,110 USD||-51%|
|Exploration Manager||2,330 USD||+3%|
|Field Safety Auditor||1,450 USD||-36%|
|Fluids Engineer||1,240 USD||-45%|
|Fuel Cell Engineer||1,300 USD||-42%|
|Fuel Cell Technician||650 USD||-71%|
|Fuels Handler||580 USD||-74%|
|Gas Compressor Operator||590 USD||-74%|
|Gas Distribution Plant Operator||1,020 USD||-55%|
|Gas Supply Manager||1,980 USD||-12%|
|Geothermal Production Manager||2,110 USD||-6%|
|Geothermal Technician||900 USD||-60%|
|HSE Engineer||1,290 USD||-43%|
|HSE Officer||820 USD||-64%|
|HSEQ Administrator||930 USD||-59%|
|Instrument Designer||980 USD||-57%|
|Lead Technical Field Advisor||1,740 USD||-23%|
|Logistics and Tool Coordinator||1,130 USD||-50%|
|Maintenance Engineer||1,310 USD||-42%|
|Maintenance Superintendent||1,150 USD||-49%|
|Material Controller||870 USD||-61%|
|Mine Engineer||1,240 USD||-45%|
|Mine Surveyor||1,470 USD||-35%|
|Mining Project Administrator||1,110 USD||-51%|
|Mining Project Assistant||900 USD||-60%|
|Mining Project Controls Consultant||1,480 USD||-34%|
|Mining Project Coordinator||1,110 USD||-51%|
|Mining Project Engineer||1,290 USD||-43%|
|Mining Project Manager||1,570 USD||-30%|
|Mining Site Manager||1,730 USD||-23%|
|Mining Team Leader||1,330 USD||-41%|
|NDT Technician||770 USD||-66%|
|Oil Service Unit Operator||680 USD||-70%|
|Oil Trader||1,650 USD||-27%|
|Oilwell Pumper||500 USD||-78%|
|Petroleum Engineer||1,410 USD||-37%|
|Petroleum Geologist||2,250 USD||-0%|
|Petroleum Pump System Operator||730 USD||-68%|
|Pipeline Technician||500 USD||-78%|
|Power Coordinator||760 USD||-66%|
|Power Plant Operations Manager||2,410 USD||+7%|
|Power Plant Operator||1,070 USD||-53%|
|Radio Operator||540 USD||-76%|
|Reliability Engineer||1,280 USD||-43%|
|Reservoir Engineer||1,160 USD||-49%|
|Risk Analyst||1,570 USD||-30%|
|Shutdown Engineer||1,090 USD||-52%|
|Solar Energy Installation Manager||1,960 USD||-13%|
|Solar Energy Systems Engineer||1,300 USD||-42%|
|Solar Photovoltaic Installer||850 USD||-62%|
|Solar Thermal Technician||760 USD||-66%|
|Supply Operations Manager||2,050 USD||-9%|
|Sustainability Specialist||2,090 USD||-7%|
|System Development Advisor||1,520 USD||-33%|
|Tanker Truck Driver||510 USD||-77%|
|Utility Operator||680 USD||-70%|
|Wind Energy Project Manager||1,850 USD||-18%|
Where can you get paid more, working for a private company or for the government? Public sector employees in Micronesia earn 7% more than their private sector counterparts on average across all sectors.